Tokai Pharma Sets IPO Terms

September 04, 2014

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Tokai Pharmaceuticals has set an estimated price range of $13 to $15 per share for its upcoming IPO. Planning to trade on the NASDAQ under the symbol TKAI, the company will offer 5.4 million shares, which would raise $75.6 million at the price range midpoint and command a market value of about $291 million. Tokai has raised over $92 million in venture funding from firms including Apple Tree Partners (49.15% pre-IPO stake) and Novartis Venture Funds (28.12%), among others. Its most recent financing raised $35.5 million at a valuation of $105.5 million in 2013.